Young Consumers Demand Sustainable and Social Responsible Luxury

Title

Young Consumers Demand Sustainable and Social Responsible Luxury

Author

Amadea Ruxandra Agapie, Gabriela Sîrbu

Classification JEL

M30, M31, M39, O33, Q01.

Abstract

The emerging new generations, such as generations Y and Z, are currently redefining the luxury industry. Consumer behaviours exhibited by these two are mostly influenced by the conditions they evolve in. Nowadays the online and offline mediums are coexisting in a symbiotic relationship that has a great impact on these young purchasers. Their access to information is fairly unlimited and their possibilities expand greater than the ones of any other previous generation. These aspects are making them more aware and responsive to issues such as environmental and social causes. As luxury brands are taking it upon themselves to meet the young consumers’ demands, their acknowledged characteristics are also changing as the two cohorts swift in this direction. This paper is mainly concentrated on both academic and business literature review and aims to depict how the two cohorts transform corporate sustainability and responsibility policies into main traits of luxury brands. The topic is part of an ongoing study which, when completed, will be followed by empirical research that focuses on the consumer behaviour of Millennials and Digital Natives and their direct impact on luxury brands.

Keywords

consumer behaviour, luxury brand perception, digital age, generation Y, generation Z, sustainability, social responsibility.

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Please cite this article as: etimm (2020) Young Consumers Demand Sustainable and Social Responsible Luxury. Journal of Emerging Trends in Marketing and Management. http://www.etimm.ase.ro/?p=620